ALROSA reports 9M 2014 IFRS results.
9M 2014 ALROSA revenue increased by 21% y-o-y and amounted to RUB 146.9 bn. EBITDA grew by 28% y-o-y and reached RUB 65.8 bn with EBITDA margin going up to 45%.
Net profit in 9M 2014 amounted to RUB 12.8 bn, reflecting a 44% decrease y-o-y, mainly due to increased FX loss as the result of revaluation of the USD-denominated part of the Group's credit portfolio following the ruble depreciation in Q3 2014.
Free cash flow in 9M 2014 increased 5.6 times y-o-y and amounted to RUB 22.6 bn as the result of a weaker ruble, higher operating profit and sell-down of inventories.